đ¨đ¨$BTC Freefall as CPI Data Sparks Market Panic: Whatâs Next for Crypto?đ¨đ¨
Bitcoinâs latest plunge, now hovering around $59,328, coincides with the shockwaves from the US CPI report. The inflation data, showing higher-than-expected numbers, has caused widespread market chaos, leading to panic selling. As we tweeted earlier, the combination of inflation pressure and rising unemployment claims sent both traditional and crypto markets into a tailspin.
Investors are now grappling with the potential of further Fed rate hikes, fueling fear across the board. With BTC approaching a key support level, the question remains: will it bounce back, or is more pain ahead?
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